Waitr revenues, losses rise during first quarter

Waitr, the food delivery service, posted a first-quarter net loss of $24.7 million, or 38 cents per share.

That was up from the $3.4 million or 34 cents per share, the company lost in first-quarter 2018.

…The company posted $48 million in revenue during the quarter, up from $12.4 million in the first quarter of 2018. Revenue related to the Bite Squad merger added $22.9 million to Waitr’s coffers.

…At the end of the quarter, Waitr said it had 2.2 million active diners, up from 541,858 the year before. The number of average daily orders jumped from just under 17,000 to more than 57,000, while gross food sales topped $170.4 million. That’s up from $54.1 million. Average order size was virtually unchanged, going from $35.39 in the first quarter of 2018 to $35.86.


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